Background
Lucion Group is the UK’s market-leading environmental services group, committed to protecting people and the planet, providing multi-disciplinary, environmental management services.
Palatine Private Equity is a well-established private equity firm, headquartered in Manchester, with a successful track record supporting management teams and businesses to execute value creation and growth journeys. Founded in 2005, it invests in companies operating in diverse sectors such as business services, consumer and leisure, financial services, healthcare, skills, training, and TMT.
Palatine invested in Lucion Group in 2019, accelerating the growth of the business and assisting them in diversification. To complement Lucion’s original laboratory services, the business has grown through organic growth and acquisitions, to offer a more holistic service across the diverse environmental risk management space.
How DRAX were engaged
Through DRAX’s relationship and partnership with Palatine Private Equity, our CFO Practice was introduced to Lucion Group to conduct the CFO search. Our objective was to find a candidate who could support the continued growth and development of the Group, ultimately supporting the management team and investors to prepare for an exit.
To determine the required complementary fit, all shortlisted candidates and the CEO completed PACE, our bespoke private equity-specific behavioural analytics tool. This evaluation provided an objective view on behavioural traits, to support the hiring process and ensure a strong fit with the incumbent leadership team.
The Outcome
Following a nationwide search, DRAX introduced and supported the appointment of Jo Seymour as CFO. Jo had previously been Finance Director for listed tool and equipment hire and services organisation Speedy Hire, with an earlier background in food manufacturing, gaming, and gambling. Jo has been appointed as a first-time CFO for this private equity-backed business.
The Client’s View:
Speaking on his experience working with DRAX and the utilisation of PACE, Phil Rozier, CEO of Lucion Group said:
“DRAX had good communication and good planning throughout. It is always useful to get a fresh pair of eyes on test results and get feedback from yourselves on what it actually means, because sometimes if you just get presented with data, you don’t really know how to interpret it or what to do with it.”
The Candidate Experience:
Regarding her engagement with DRAX through the search process, Jo Seymour, CFO of Lucion Group, commented:
“DRAX were very responsive and professional. They gave me the confidence that allowed me to make a decision that was right for me, and ultimately helped me find a role that turned out to be fantastic.”
Read Jo’s full experience with DRAX here
Contact Jack Hird at JH@draxexecutive.com for an in-depth discussion about how our CFO practice can assist your business’s leadership change requirements.
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